Antofagasta lowers spending, raises H1 earnings

Chilean miner Antofagasta cheered investors with a slim rise in mid-year profit on Tuesday achieved mostly through cost cuts aimed at weathering a weak copper market it does not expect to rebound before 2018. Majority-owned by Chile's wealthy Luksic family, Antofagasta cut capital expenditure by 42 percent to $385 million (£296.45 million) in the first half from $662 million a year earlier. "We continue to rebase our cost structure as a response to the low price environment," Chief Executi